By Naveed Anwar, Global Head of Digital & Data Platforms, Citi Services.
Treasury departments today are barely recognizable compared to 10, 15 or 20 years ago. What was once a routine, back-office function focused on financial reporting and cash management has evolved into a strategic, data-powered role central to driving competitive advantage.
The digital economy—with its focus on data analytics, seamless tech integration and real-time decision-making—has pushed treasury to the forefront of business strategy. As new technologies and business models continue to shape treasury, here are three essential strategies for future-proofing this critical function.
1. Talent Transformation: Hiring For A Data-Driven Treasury
In the past, treasuries depended on manual processes, batch reporting and finance-focused expertise. Today, the function has become far more dynamic, with treasury’s greatest value now lying in its ability to anticipate trends and provide actionable insights.
Access to real-time data and intelligence is essential, but many organizations still struggle to turn data into meaningful, predictive insights. To stay competitive, treasury teams need professionals with advanced skills in data analytics, computer science, strategic modeling and artificial intelligence.
As complex algorithms underpin more cross-functional operations, investing in talent with these capabilities will allow treasury to move from data management to proactive strategy, giving companies an edge in an increasingly data-driven landscape.
Creating a culture of continuous learning—through regular workshops, hackathons and cross-departmental collaborations—can ensure the team stays at the forefront of technological advancements. Leaders can implement structured learning paths (including courses in data analytics, AI and predictive modeling) and offer certifications in collaboration with professional organizations.
2. Aligning Business Vision With Digital Strategy
Treasury teams today are expected to do more than manage cash—they’re tasked with helping to shape the company’s long-term growth vision, often working within a complex web of digital ecosystems. This includes collaboration with IT leaders on initiatives like enterprise digital transformation and direct-to-consumer models, making treasury integral to both the customer- and supplier-facing sides of the business.
Close collaboration with CIOs and CTOs is essential to ensure coherent, user-friendly platforms. By integrating APIs, ERP and treasury management systems (TMS), treasury can eliminate the inefficiencies of legacy setups like multiple bank portals and build a streamlined tech stack that supports broader business goals and drives agility.
3. Planning For The Future: Strategic Backward Mapping
Decisions made today will define the treasury of tomorrow. Treasurers must determine whether to rely on existing architecture or to embrace innovative technologies that drive growth. As companies expand, particularly through mergers and acquisitions, a clear roadmap for integrating new assets into existing treasury platforms is crucial.
Moreover, emerging trends like instant payments, open banking, cloud, AI and blockchain are reshaping the treasury landscape, demanding that treasurers stay well-versed and ready to pivot as needed. By strategically aligning with these trends, treasurers can ensure treasury not only adapts but thrives—creating new value for the business.
Envision the treasury function’s long-term role within the organization and work backward to identify milestones. This process might include setting up innovation labs or working groups to explore technologies like blockchain and AI in a controlled environment.
Building A Real-Time, Strategic Treasury Function
A real-time, data-enabled treasury requires more than just technological upgrades; it requires treasury to be seen as a strategic advisor to the C-suite. CFOs must recognize treasury’s potential to add value, and treasury teams must prioritize high-impact use cases that resonate with leadership. Ultimately, the future of treasury lies in bridging the traditional gap between treasury, IT and business leaders, creating a unified, data-driven function that supports real-time decision-making and enables agile growth.
As treasury continues its evolution from back-office to strategic asset, focusing on talent, technology alignment and adaptability will only accelerate its transformation. By adopting these strategies, treasurers position themselves as indispensable partners in building tomorrow’s agile, data-driven organization.
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